User Support Forum

We have our 3 funds (General Fund, Missions Fund & Restricted Funds) in 3 separate checking accounts. However, when I make the deposit from Sunday, I deposit all the money into the General Fund (most people write 1 check and then, if they choose to, split it b/w the 3 accounts), and then I make the appropriate transfers into the different checking accounts.

When I set up our Contributions Module, I have, for 1 example, money given to a certain missions agency credit the associated income account - in our General Fund (01). When I make the transfer however, this income account is not affected. My entries are as follows:

When Contribution module updates Fund Accounting:
01-1110-000 (GF Checking A/C)
01-4248-100 (Mission Agency Income) (I am in the process of changing these accounts to pass thru contributions - short term liabilities.

When I make the transfer b/w the GF Account & the Missions A/C:
01-9000-101 Transfer to MF
01-1110-000 Checking A/C

02-1360-000 MF Checking A/C
02-9000-101 Transfer to MF


How do I move the income to the missions fund (instead of it being income to the general fund)? Not sure of the entry. When I make my initial entry, can I have a debit to 1 fund and a credit to a different fund (thus showing the deposit into the General Fund but the short term liability of the Missions Fund, and later showing the transfer of funds to the Missions Fund, and then when I make the payment, debiting the liability in the missions funds & crediting cash)?

THANK YOU,

Heidilr1 wrote:We have our 3 funds (General Fund, Missions Fund & Restricted Funds) in 3 separate checking accounts. However, when I make the deposit from Sunday, I deposit all the money into the General Fund (most people write 1 check and then, if they choose to, split it b/w the 3 accounts), and then I make the appropriate transfers into the different checking accounts.

When I set up our Contributions Module, I have, for 1 example, money given to a certain missions agency credit the associated income account - in our General Fund (01). When I make the transfer however, this income account is not affected. My entries are as follows:

When Contribution module updates Fund Accounting:
01-1110-000 (GF Checking A/C)
01-4248-100 (Mission Agency Income) (I am in the process of changing these accounts to pass thru contributions - short term liabilities.

When I make the transfer b/w the GF Account & the Missions A/C:
01-9000-101 Transfer to MF
01-1110-000 Checking A/C

02-1360-000 MF Checking A/C
02-9000-101 Transfer to MF


How do I move the income to the missions fund (instead of it being income to the general fund)? Not sure of the entry. When I make my initial entry, can I have a debit to 1 fund and a credit to a different fund (thus showing the deposit into the General Fund but the short term liability of the Missions Fund, and later showing the transfer of funds to the Missions Fund, and then when I make the payment, debiting the liability in the missions funds & crediting cash)?

THANK YOU,

You have to 'transfer' from the General Fund Income account to the other funds Income account in the same way you do the transfer from the checking account. Using the transfer accounts:
Debit 01-Income Credit 01-Transfer-to-
Credit 02-income Debit 02-Transfer-from

You could setup the Contributions funds to update the other fund accounts, if you want. The system will not give you an error when you do that in Contributions setup. I don't believe that Funds Accounting will balk about it either. I believe you can setup to credit the liability accounts in the other Accounting Funds too.